Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi I need help on what is the journal entries and ledger only of this problem using t accounts to both . Below is the

Hi I need help on what is the journal entries and ledger only of this problem using t accounts to both. Below is the problem and I hope that you can help me for surely I will give you full positive feedbacks

image text in transcribed
12:45 .all all 62 Document (19) - Saved .. . Journalize using T-account the following transactions of Alarcon Portrait Studio and construct the Trial Balance and adjust the necessary adjustments, and the Adjusted Trial Balance, Income Statement and the Balance Sheet. Transaction of Alarcon Portrait Studio Dec 1 Invested P300,000 for a start of the business 1 Paid two months rent is advance for the studio, P40,000 2 Bought photography equipment on account, P100,000 5 Purchased office equipment for cash P50,000 8 Purchased photography supplies for cash P30,000 15 Received cash for portraits P70,000 16 Billed customer for portraits P25,000 21 Paid % of the photography equipment purchased on December 2 22 Paid utility for the month of December P15,000 28 Received payment from customer billed Dec. 16, P12,000 29 Alarcon Withdrew cash for personal use P20,000 30 Received cash from customer for portraits P22,000 31 Paid wages of employee 23,000 the payroll voucher showed the ff. Information. Gross Pay P25000 Less: Deductions SSS P1200 Phil heath 400 Pagibig 400 Net Pay P23,000 BIUDA O O

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Management Accounting A User Perspective

Authors: Michael L Werner, Kumen H Jones

2nd Edition

0130327506, 9780130327505

More Books

Students also viewed these Accounting questions